Town of Bridgton Investment Committee Meeting Minutes 2026-05-14
Bridgton Reviews Ongoing Norway Savings Bank Investment Mandate
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Description
The Town of Bridgton Investment Committee reviewed its ongoing investment management relationship with Norway Savings Bank, including portfolio performance, allocation, and fee arrangements. Norway confirmed that a 50% discount from the standard fee schedule is currently being applied under the agreement. The committee also raised concerns about unresolved historical performance reporting issues.
Contract Details
Vendor
NORWAY SAVINGS BANK
Agency
Bridgton Water District, ME
Contract Type
FINANCIAL_SERVICES
Document Date
May 14, 2026
Renewal Info
Existing investment management agreement with tiered fee schedule (1.00% on first $1M, 0.90% on second $1M, 0.75% on next $2M, negotiated fees over $4M) with a 50% discount applied; no explicit renewal or termination dates discussed in the minutes.
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Town of Bridgton Investment Committee Meeting Minutes 2026-05-14
Town of Bridgton Investment Committee Meeting Minutes 2026-05-14
Town of Bridgton Investment Committee Meeting Minutes 2026-05-14
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